RIM Could Rise on Wings of BlackBerry 10: Pro

With RIM moving toward the long-awaited launch of its newest BlackBerry, budding excitement among investors could push its lagging stock as high as $20, according to one analyst.

As Apple's Phone and Samsung's alaxy have surged in popularity, the once high flying BlackBerry has become a laggard in the digital wars. With the release of BlackBerry 10 early next year, RIM hopes to reinvigorate its fortunes.

One analyst is getting ahead of a potential rebound. Kris Thompson, an analyst at National Bank Financial, told CNBC's "Squawk on the Street" that the "negativity was really at a peak" over RIM's prospects. In late September, the stock sank to a 52-week low at $6.22.

Bullish Call Boosts RIM Shares

Kris Thompson, analyst at National Bank Financial and the man who made the bullish call on Research in Motion, says the stock could push as high as $20 following the release of Blackberry 10.

"It's more of a go-with-the-flow call. We're following the money," said Thompson, who underscored that his call was not based on fundamentals, but on a recent flow of investment funds into RIM's battered shares.

"We don't want to bet against the dollars flowing to the stock," he said. "If the BB10 gets good reviews upon launch, it's off to the races."

Should RIM's device be embraced by the marketplace, "we wouldn't be surprised at all to see this at $25 to $30 even next year," Thompson added.

The BlackBerry was once the market's leading smartphone, epitomizing professional status before technology glitches — and the lack of "cool" cachet associated with the iPhone — caused it to fall far behind the competition.